Bank Failure
First NBC Bank
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Closed April 28, 2017 · New Orleans, LA · FDIC Cert #58302.
- Closing date
- April 28, 2017
- Headquarters
- New Orleans, LA
- FDIC Certificate
- 58302
- Total assets at closing
- $3.33B
- Total deposits at closing
- $3.03B
- Estimated loss to the insurance fund
- $722.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Whitney Bank
Context
On April 28, 2017, regulators closed First NBC Bank, headquartered in New Orleans, LA. At closing, the institution held approximately $3.33B in assets and $3.03B in deposits. The FDIC record names Whitney Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $722.1M.
By assets at closing this is the 67th largest of the 3,526 bank failures in the FDIC record, and the 1st of 8 in 2017. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did First NBC Bank fail?
First NBC Bank was closed by regulators on April 28, 2017.
Who acquired First NBC Bank?
The FDIC record names Whitney Bank as the acquiring institution in the resolution of First NBC Bank.
How big was First NBC Bank when it failed?
First NBC Bank had approximately $3.33B in total assets and $3.03B in deposits at the time of failure.
Other failures in 2017
| Date | Bank | Assets |
|---|---|---|
| Dec 15, 2017 | Washington Federal Bank for Savings | $166.3M |
| Oct 13, 2017 | The Farmers and Merchants State Bank of Argonia | $33.0M |
| May 26, 2017 | Fayette County Bank | $34.4M |
| May 5, 2017 | Guaranty Bank | $1.03B |
| Mar 3, 2017 | Proficio Bank | $68.2M |
| Jan 27, 2017 | Seaway Bank and Trust Company | $297.8M |
| Jan 13, 2017 | Harvest Community Bank | $124.2M |
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